Indian outsourcers TCS and HCL see profits boom

Indian outsourcing companies Tata Consultancy Services (TCS) and HCL both saw profits grow by
more than 20% in their quarterly results.

Mumbai-based
TCS saw operating profits grow by 24.7% year-on-year to $756m (£492m) in its third
quarter, and sales increase by 20.6% to $2.59bn compared with the same period in 2011.

Delhi-based
HCL posted profit growth of 23.7% for its second quarter to $337.3m, and revenues increased
18.3% to $1.02bn, compared with the same quarter last year.

Both companies reported strong growth in Europe in their results.

TCS's CEO, N Chandrasekaran, said: “While technology budgets are still being set for the next
fiscal year, there is little doubt that technology is a key resource to help global businesses
optimise their operations and fuel growth in the current economic climate. In this environment TCS
is partnering with clients to achieve their objectives using our integrated portfolio of
solutions.”

TCS said it had applied for 650 patents, of which 70 had been granted by the end of 2011. The
company also grew its global workforce by 18,907 during its third quarter to 226,751.

Shiv Nadar, chairman at HCL, said: “As the uncertainty around the economic environment
continues, the world will demand companies to be deeply conscious of the accompanying social
sensitivities. As economies contract and the job environment remains challenged, we at HCL are
committed to creating local jobs, contributing to the welfare of local communities and pushing the
pedal on enterprise philanthropy in continuing cognizance of our social responsibility.”

Email Alerts

By submitting my Email address I confirm that I have read and accepted the Terms of Use and Declaration of Consent.

By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

It can be tempting to stray from the security roadmap security professionals have put in place when data breaches like the Sony and Anthem breaches are all over the news. But experts say it's crucial to stick to the security basics.

The Open Data Platform has arrived, but not all Hadoop vendors are on board. The initiative, aimed at boosting interoperability, formed a backdrop for discussion at the Strata + Hadoop World 2015 conference.